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Does the state of Illinois require car insurance?

I have the title to and own my car, does ohio still require that i carry state minimum insurance?

  • i heard on a radio show that if you had the title to your car you don't need to have collision or comprehensive insurance

  • Answer:

    Having the title in your hand, or having the title in the banks hand makes no difference. In 48 states (no insurance required in New Hampshire and Wisconsin) You must have at least liability insurance. What you are talking about is that lenders require comprehensive and collision coverage when the hold a lien on the car. When the car is paid off and the lien is released, you no longer are required to buy comp and collision but you must have liability. Tip: unless it is a real beater, always buy full coverage

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Once the payments are completed, collision and comprehensive are not required. Only Public Liability and Public Damage. It is just that if you have an accident that is your fault, you will not get any money for your car repairs or replacement.

Chuckles

Collision /comprehensive protects you and the bank, Minimum liability protects the people/car that you hit.

Dan W

You are required to carry LIABILITY insurance. Collision and comprehensive is optional, unless it is a condition placed on you by a lender. BUT - if you don't carry collision and comprehensive and you get hit by an uninsured driver or if you are at fault in an accident, your insurance will not cover damage to YOUR car. Understand that? Don't ask a question here saying your insurance won't pay for your repairs because you rear-ended someone. This is a choice you make.

Scott H

Auto insurance is regulated by the STATE not the Federal government. Ohio requires at LEAST: bodily injury and property damage liability @ 12.5/25/7.5 (so bodily injury 12,500/25,000 and property damage at 7,500) You do NOT need comp or collision unless required by a finance company. So the radio show would be correct if YOU have the title to your car, but keep in mind there would be no coverage for theft, vandalism, or any type of physical damage to YOUR vehicle if you are at fault or it would be an act of nature/ god or weather. IF you are in an accident and it was the OTHER person's fault, you COULD TRY to get your car fixed through their insurance AS LONG AS THEY HAVE INSURANCE. Its best to be safe and keep the coverages (comp and coll) on your car, especially if it is a newer vehicle. Determine the value of your car by going to www.nada.com or www.kbb.com and see what it is worth, then figure out in the event of a total loss, if it would be easier to pay the premium each month for comp and coll OR it would be easier for you to have to buy a whole new car in the event of a total loss.

foxychick24

I would hope you still have to have it for everyone Else's protection if not yours.

ziggy_brat

That is false. I would get the coverage unless you want to pay for accidents out of your own pocket. Even if someone rear ends you and not a thing about it was your fault, the law holds you at fault for not having insurance.

jeligula

That is federal law. The feds leave it up to the states to decide exactly how much coverage is required but whether you own your vehicle or not you are still required to carry liability insurance.

J P

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